FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP) - Page 1395 - Poker News

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FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP)

View Poll Results: Do you want the AGCC to regulate the new FTP?

Yes

1,156 56.58%

887 43.42%

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07-26-2012 , 08:22 AM

#34851

pokur

banned

Join Date: May 2012 Posts: 107

The four day delay request is very normal. However it quite possibly will be followed by more requests

To be honest, I would like to see all the workers at full tilt immediately fired and replaced by stars employees...

Those tilt workers still there are most of the managerial team and probably knew shady stuff was going on more than half the owners knew. They just didn't make as much money so they've been given an undesserved pass.

Last edited by SGT RJ; 07-26-2012 at 08:42 AM.

07-26-2012 , 09:41 AM

#34852

Zeus84

centurion

Join Date: Jun 2006 Posts: 164

"Zynga: We offer cash games in the first half of 2013". Should this have any effect on this deal?

07-26-2012 , 10:09 AM

#34853

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,530

Quote:

Originally Posted by Diamond_Flush

No, because the letter asking for the week extension specifically said it was because of ongoing settlement negotiations and also was not opposed by the government.

Have any other extensions been opposed by the govt. during this whole saga?

And I guess the language of "settlement negotiations" matters more than I thought? B/c they've been in settlements negotiations basically since BF right?

Obv not trying to argue, just trying to understand.

07-26-2012 , 11:06 AM

#34854

PLO_Micro_Donkey

journeyman

Join Date: Jan 2010 Posts: 322

Quote:

Originally Posted by Zeus84

"Zynga: We offer cash games in the first half of 2013". Should this have any effect on this deal?

(checks ZNGA's share price).

They might not even be around in 1H 2013.

07-26-2012 , 11:50 AM

#34855

Skallagrim

PPA Board Member/LSN Dir

Join Date: Nov 2006 Posts: 6,713

Quote:

Originally Posted by insidemanpoker

Can anyone give any historical perspective into FTP's four day delay request? Is it normal to request such a tiny extension or is it a very strong sign of expectations of an imminent settlement of some sort?

Basically, could they have asked for two months and chose four days for a very specific reason or are requests of this length normal and often amount to nothing..?

A request for a delay in a case of the size and scope of FTP's is not unusual and par for the course.

A request for a delay of merely 4 days IS unusual. Typically the requested number of days would be a round number or a common time frame (one week or one month or 30 days).

What to read into it though, that is hard to say. It could merely mean that FTP's lawyers needed some document or similar bit of evidence to complete their motion and knew they would get it within 4 days. Or maybe a key lawyer for FTP is away for another 3 days and wants to review the Motion before filing.

It COULD mean 4 days is a target date to complete negotiations (between FTP and the DOJ only, or between all players). BUT THAT IS ONLY ONE OF MANY POSSIBILITIES (and probably not the most likely).

As we have seen with PokerStars, filing a Motion to Dismiss does NOT mean that negotiations must cease.

Skallagrim

07-26-2012 , 12:07 PM

#34856

pokur

banned

Join Date: May 2012 Posts: 107

Nobody fools the agcc more than seven years in a row... Nobody!

Best gaming commission ever!

http://www.sportsmemo.com/blogs/?sel...-26%2007:21:21

07-26-2012 , 12:26 PM

#34857

starvingwriter82

Carpal \'Tunnel

Join Date: Feb 2009 Posts: 7,793

Quote:

Originally Posted by pokur

Nobody fools the agcc more than seven years in a row... Nobody!

Best gaming commission ever!

http://www.sportsmemo.com/blogs/?sel...-26%2007:21:21

Gee thanks AGCC. So cool of you to start looking out for the welfare of players, right after all the money was gone and the company was burned to the ground.

07-26-2012 , 12:34 PM

#34858

Zenzor

Pooh-Bah

Join Date: Dec 2007 Posts: 5,420

Quote:

Originally Posted by pokur

and you know this how?

07-26-2012 , 12:35 PM

#34859

MICK E JUICE

adept

Join Date: Jul 2011 Posts: 820

Quote:

Originally Posted by starvingwriter82

Gee thanks AGCC. So cool of you to start looking out for the welfare of players, right after all the money was gone, except for your 250k and the company was burned to the ground.

FYP

07-26-2012 , 01:25 PM

#34860

DoTheMath

Pooh-Bah

Join Date: Jul 2006 Posts: 4,689

Quote:

Originally Posted by pokur

Nobody fools the agcc more than seven years in a row... Nobody!

Best gaming commission ever!

http://www.sportsmemo.com/blogs/?sel...-26%2007:21:21

From the PokerNews article referenced in the sportsmemo story:

Quote:

The AGCC retain the right to waive this requirement if it receives a written personal guarantee that all customer deposits could be refunded in full at any time, and proof of this ability will have to be continually proven.

All license holders will also have to fill in regular reports to the AGCC about the financial health of their company. An example of the report is shown as Schedule 22 Format of Monthly Report Of A Category 1 Licensee's Customer Fund Balances. This report forces licensee's to list their bank balances along with any changes positive or negative of these accounts. These regular reports – due on the 20th of each month - [seem to be the same sort of reporting system that was in place for FTP]

So the AGCC can waive the requirement for segregated accounts, and they are still relying on the licensee to provide reports as their only way to verify that the money is really there.

IOW, nothing has changed. Player funds are not protected.

07-26-2012 , 01:44 PM

#34861

black_friday

banned

Join Date: May 2012 Posts: 714

I wonder how much ad revenue this thread has raked in

07-26-2012 , 01:50 PM

#34862

bmw04325

enthusiast

Join Date: Mar 2011 Posts: 99

http://www.cnbc.com/id/47982152

According to this article, Shuffle Master is no longer purchasing Ongame Network. The reasons are cited in the article. Is it possible, that Shuffle Master could pursue FTP Software? Is this a reason for the never ending delay in Pokerstars attempt to purchase FTP.

07-26-2012 , 02:00 PM

#34863

Kirbynator

Carpal \'Tunnel

Join Date: Aug 2006 Posts: 52,004

isnt zynga buying ongame?

07-26-2012 , 02:04 PM

#34864

bmw04325

enthusiast

Join Date: Mar 2011 Posts: 99

Zynga's stock is down 40% today. Just saying.

07-26-2012 , 02:13 PM

#34865

KingKongGrinder

Pooh-Bah

Join Date: Mar 2009 Posts: 3,598

^^^^^^^^^^^^^

Why do you think they are looking into online poker? Their earnings blow and the outlook doesn't look good for the business model.

07-26-2012 , 03:06 PM

#34866

zoomie123

journeyman

Join Date: Aug 2008 Posts: 388

Feel the momentum?

FT: request for a 4 day extension.
NV: commission mtg. Poker by end of YEAR!
WA: Meeting with tribes about igaming

Things are happening!!!

07-26-2012 , 03:11 PM

#34867

CANUCKEH44

grinder

Join Date: May 2012 Posts: 643

Quote:

Originally Posted by pokur

Nobody fools the agcc more than seven years in a row... Nobody!

Best gaming commission ever!

http://www.sportsmemo.com/blogs/?sel...-26%2007:21:21

LOL

Geeze Why? Didn't we think of this before.

Like closing the gate after all of your prize horses have left the stable.

I swear, This is the longest sweat ever..... Sigh............

07-26-2012 , 03:23 PM

#34868

capiscc

grinder

Join Date: Mar 2011 Posts: 675

Rubin just got three years. Looks like the doj is really enforcing these defendants. I really don't think a deal between ps and ft will happen. Isai looked to buy ft as a sign of appreciation and diligence, while at the same time trying to stay out of jail. I don't think the doj cares enough about these lost "gambling funds" to let isai off.

07-26-2012 , 03:32 PM

#34869

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,530

Yeah, with Ira getting 3 years for payment processing, with a long previous record though, wtf is Bitar gonna get. And why the hell would Isai ever come back to the US without a deal?

07-26-2012 , 03:44 PM

#34870

aggo

Carpal \'Tunnel

Join Date: Feb 2008 Posts: 10,422

zynga is down tons, but still has 300mill in revenue and lost 20 mill. it's not doomsday.

07-26-2012 , 03:48 PM

#34871

pianospike

adept

Join Date: Feb 2008 Posts: 1,081

Quote:

Originally Posted by aggo

zynga is down tons, but still has 300mill in revenue and lost 20 mill. it's not doomsday.

Zynga also has $1.6 billion in cash on hand. So they still have plenty of financial leverage as well.

07-26-2012 , 03:52 PM

#34872

insidemanpoker

Pooh-Bah

Join Date: Mar 2009 Posts: 3,590

There is a zynga thread.

God, this lack of any REAL news is just brutal.

07-26-2012 , 03:56 PM

#34873

zoomie123

journeyman

Join Date: Aug 2008 Posts: 388

Quote:

Originally Posted by zoomie123

Feel the momentum?

FT: request for a 4 day extension.
NV: commission mtg. Poker by end of YEAR!
WA: Meeting with tribes about igaming

Things are happening!!!

And people are going to jail.